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Cashin In

News/Business. A practical look at money management. (CC)

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00:30:00

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mpeg2video

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ac3

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1280

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720

TOPIC FREQUENCY

California 4, S&p 3, Cashin 3, Gary 3, Jonathan 3, Europe 3, Kimberly 3, Us 3, Wayne 2, Eric 2, Heather Childers 2, Geico 2, Obamacare 2, Pelosi 1, Clinton 1, Bam 1, Alka Seltzer 1, Volkswagen Springtoberfest 1, Motorola 1, United Nations 1,
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  FOX News    Cashin In    News/Business. A practical  
   look at money management. (CC)  

    March 23, 2013
    1:30 - 2:00pm PDT  

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♪ understanding you clearly... what is the capital of zimbabwe ? ... the first time you ask with the google voice search. the droid razr maxx hd by motorola. droid recognition. droid powerful. >>. >> neil: charles, what do you got? >> i love instamil. there is a boom around birth, g.d.p., great stock for the next ten to hundred years. >> what do you make of that. >> i like it. i know you like it charles because it's been consistent. over the last year it hasn't been a consistent stock. so if something people are going in over and over. >> neil: what are you doing, adam? >> s&p 500 index, etf, i put a
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little more into this. its consistent way to invest. >> neil: and mirroring the performance. s&p 500. >> which is going to be better than most professionals. >> he is right about that. you look around there are so many average person ain't going to get rich with the s&p 500. >> neil: that will do it. >> confetti, candles, birthday bash for obamacare. law turning three years old today. left couldn't be happier. >> it helps us of honor of life, liberty and pursuit of happiness >> eric: a gift now standing 6'7" taller than the president. cashin' in, crashing the party right now.
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>> eric: i'm eric boling and "cashin' in" crew is with us this. we and welcome everybody. don't crack the bubbly just yet. it's been three years since president obama signed obamacare into law. regulations keep growing and growing. is it starting to get messy. republicans declaring messy that is one of architects saying it himself. >> i think we know it is going to be messy. there will be things that come up that are unanticipated. >> eric: he is right. when we bought the cake. woman said obamacare that is why my hours got cut. i guess we can expect more of that? >> you are going to see a lot more of that. this is direct impact that it is having. we had the legislation and people are trying to read it and get through it. now you see the regulations
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piling up a and practical day to day coming out in the form of a woman who is trying to make a case and earn a living and run a business. >> eric: there are a lot of things that we learned about the obamacare law and we're going to roll them while you talk. this is growing by the day. >> yeah, it's too bad the congress didn't learn about it. it's only 2,000 pages long. we have elected people idiots people vote on things they don't read. there is a payroll tax of .9% and investment tax 3.8% and excise tax of which there are 159 rules to spell out how that tax applies. can you imagine how this is going to be? this is nightmare. this is so the federal government can hire millions of people to make this legislation possible. it's idiotic. they should break it around started all over.
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>> eric: and remember when president clinton said that it would not add to the debt and now it's trillion dollars? >> it's amazing people hate so much of it. let's note the american people when asked about the specific provisions in the affordable care act actually like it. they like tax credits for small insurance and closing the medicare loopholes and 80% of like those things and less than 50% know they are in the bill. >> let's talk about why this is going to kick in. eric they purposely wrote this thing, once it is in all the crappy things come out. knows what is going to happen to medicare costs and medicare or anything like that.
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good luck trying to find a doctor or nurse. they did this in purpose. they bam, smacked you with this. >> eric: that 80% of the people are okay with this? >> are they going to be okay when their premiums okay when they rise 100%. honestly this is birthday party, take this birthday present and bring it back to sender. like medicare and social security and all these government entitlements, you'll see premiums rise and more and more doctors leaving their practice. it's no surprise why. free market is what lowers costs. it's going to ruin it for all. >> eric: most recent fox poll says 55% of the people think all or part of it should be repealed? >> what i'm saying is when you tell people what is in law, do you think small businesses get
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tax, and over 70% of the people is not. they are wrong. and number two, jonathan makes my job so easy, he blames medicare and social security. medicare actually does provide health insurance for seniors at a lower cost than the private market and people like it. people like it. [ talking over each other ] >> let me answer that. sally, there was no private market provider prior to obamacare. now it's going to be hundred percent and believe me just like all the other entitlements you worship, costs will go up, services will go down but the real cost won't be in dollars but it will be in people's lives. >> part of the law says if you are under 50 employees you can get waivers. aren't we basically telling people not to hire more people. >> look at the impact. any people that have an burial is spirit left in their body
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after getting trampled by this administration and all the regulations on small businesses. now, they are capping them with healthcare. they have an incentive now to hire less people and incentive to reduce the number of hours employees are working like cake makers in order to avoid paying for their health insurance. we're going to be become a nation of part-time workers. i don't see how in the big picture this is going to benefit the country or the economy. >> we're going to repeat this over and over again. nancy pelosi says let's pass it so we can read it. they don't know the definition of a full time employee. all she knows she probably not getting healthcare. >> eric: i'm holding a constitution in the hand which i carry with me. i page through this. i can't find government can require me to purchase something. >> eric, it's unfortunate. the government, it's a fascist
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government. they can force you to do anything they wanted to do. why we are celebrating something that is horror like obamacare is beyond me. you are talking about a birthday. i tell you what, here is the birthday. you see this cookie, the cookie crumbles. [ laughter ] >> it's not worth anything. they should turn around get rid of it. >> eric: we're laughing but the economy rests on healthcare. 15-17% of the economy, if this fails we're in deep trouble. >> everybody left and right says we have to get the costs under control. look, i'm glad you got a cake here eric because what the folks on the right is help themselves to giant -- >> the problem with healthcare, there. >> wait. >> there is no preventative care in the package. >> we could talk about that. idea of people taking individual responsibility by being called
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on to pay their own healthcare costs --. >> eric: hold on. >> it's double speak at the highest level. this is not individual responsibility. this is government force. this is government basically monopolizing healthcare with a gun. healthcare requires free minds to make up their own decisions. cost for example to small employers, small employers to offer a certain plan that may be not all their employees necessarily want. that higher costs and that is why the system was designed to fail. it was designed to put healthcare completely within government control. that is why the person that support it, yeah, there will be problems but we had to get it done. >> eric: you wrap that up in such a night tight package.grea. new plan to fix our roads and bridges, raise the gas tax by a penny. doesn't sound like much but
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where is the money we're already paying? and protestors probably rejoicing as city politicians that finally got convicted of misusing tax dollars. why are they saying this may not be good news after all. ♪ [ coughs ] [ angry gibberish ] i took something for my sinuses, but i still have this cough. [ male announcer ] a lot of sinus products don't treat cough. they don't? [ male announcer ] nope, but alka seltzer plus severe sinus does it treats your worst sinus symptoms,
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i had[ designer ]eelingnth. enough of just covering up my moderate to severe plaque psoriasis. i decided enough is enough. ♪ [ spa lady ] i started enbrel. it's clinically proven to provide clearer skin. [ rv guy ] enbrel may not work for everyone -- and may not clear you completely, but for many, it gets skin clearer fast, within 2 months, and keeps it clearer through 6 months. [ male announcer ] enbrel may lower your ability to fight infections. serious, sometimes fatal events, including infections, tuberculosis, lymphoma, other cancers, nervous system and blood disorders, and allergic reactions have occurred. before starting enbrel, your doctor should test you for tuberculosis and discuss whether you've been to a region
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where certain fungal infections are common. you should not start enbrel if you have an infection like the flu. tell your doctor if you're prone to infections, have cuts or sores, have had hepatitis b, have been treated for heart failure, or if you have symptoms such as persistent fever, bruising, bleeding, or paleness. if you've had enough, ask your dermatologist about enbrel. i'm heather childers. a major late winter snowstorm on the move across the country. much of colorado was pummeled today. whiteout conditions shut down miles of interstate and triggered delays at denver international airport. snow spreading across the midwest and the plains. a severe thunderstorm watch is in effect for parts of deep south and on monday the snow could be falling in the northeast. a tragic story of a falsely accused man suffering from a massive heartache one day after
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he was released from prison. he spent 23 years behind bars important his murder sentence that was overturned on thursday. his lawyer says that his client had a serious heart attack last night. the father of three now being treated at a new york hospital. i'm heather childers and now back to "cashin' in." for the latest log on to foxnews.com ♪ beautiful day ♪ ♪ to make it that way >> to pay more at the pump. congressman with a plan to hike the federal gas tax by a penny to help fix roads and bridges and lots of states are trying to raise it more. jonathan aren't we giving enough of our own, why more? >> gas is already tax add lot. 49 cents on average we're paying in taxes. blame taxes one of the biggest
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factors when it comes to powering our life. instead of more taxes and more taxes, why not try freedom and privatizing some of these roads. it's been done all over europe and costs are borne by people that use them. >> eric: what do you think. privatize more roads? >> i think it's a great idea. i'm not against this tax. i think a one cent tax, actually goes into highway trust fund, key word is trust so it won't get watered down. >> highway trust fund is going to broke two years. you want to keep feeding it? >> jonathan if you run it on budget, if it is a trust fund and there is a budget. pleat finance. let me make a point -- let me finish. this has absolutely nothing to
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do with job creation. if you want to talk about job creation. let's not talk about a tax for highways as part of a job creation bill. that is just dumb. >> eric: what do you think of the idea? >> you pay like 50 cents on gallon. if anyone has driven down 48th street it's so bad and bumpy. if you could use this money and fix the roads, i would give you 5 cents extra. we can't trust them to spend it properly. >> eric: we use 138 billion gallons of gasoline per year? >> that is point. i really don't feel like helping reward them by giving them more money they are not going to spend properly like we did with the hard working american taxpayers for stimulus or shovel ready projects. i guess they weren't so shovel ready. do more with what you have
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already. >> eric: griotd point that kimberly makes. trillion dollars in shovel ready. >> i don't have enough time to address all of that. we have breodz broken and need to be fixed. people rely on those roads to get to work, they will have to pay and they may not be able to afford it. share those costs and, yes, it does create jobs, construction jobs. >> eric: we threw a graphic, $356 billion is in the budget for fixing roads and bridges already, but they want to raise more. >> eric, one cent tax raises $1.8 billion. if it done on budget and finance these things, wayne, you say you can repair so much this year and do it on a rational basis that
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is nothing wrong with that. the fact that people are stealing the money. >> eric: have they ever done anything rational bases in d.c.? >> they protect our rights. sally paints a picture of poor people not being able to afford the toll. that is certainly not the case throughout europe. it's not people that will paying them it will be investors that want to participate. you can actually buy into them. >> jonathan, it would become like europe. >> government doesn't need to run the roads and bridges and tax us to pay for it. >> the states with the highest gas taxes, they are the states that most broke. wasting your money.
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>> guilty of misusing taxpayer money. just a started for california bozos who gave themselves outrageous salaries. taxpayers may not be happy after all. ♪ ♪ ♪ [ male announcer ] let's say you pay your guy around 2% to manage your money. that's not much, you think. except it's 2% every year. go to e-trade and find out how much our advice and guidance costs. spoiler alert: it's low. it's guidance on your terms, not ours. e-trade. less for us. more for you.
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coming up city workers misusing city money. should taxpayers be relieved.
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♪ ♪ ♪ ♪ >> eric: scandal range bell? remember the taxpayer outrage
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after learning that bell california officials gave them insane salaries, one as high as $800,000 a year. they were convicted on multiple counts of misusing public funds. kimberly will a guilty verdict help taxpayers? >> i don't think it will. it will amount to a slap on the wrist. i'm not sure it will deter public officials from ripping off the taxpayers and i think the american taxpayers will be vulnerable to this level of corruption. keep in mind the big kahuna he hasn't been tried. >> pension system is broken base of unions. why don't we fix that? >> and it's all these guys fault. i'm glad these guys why prosecuted. you have hsb that has been laundering for drug cartels and j.p. morgan that foreclose on military families. why don't we prosecute them?
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>> you don't see the link here? >> it's smaller government. government big government what invites the corruption because instead of protecting people's rights they are involving with recycling and lending money as they were in bell, california and healthcare. that is what creates the corruption. shrink government and shrink the size and scope and you will shrink corruption, as well. >> i don't believe that. you start locking these guys up putting them away for good, that will stop it. you have five cities in california that is going into bankruptcy. you know what is going to the municipal bond market? you have thieves running it and put them away from good. you electrocute couple guys and.... >> whoa. >> a long time they have been
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getting away with this, paying bills and going on vacations and no one notices. maybe it will make a difference. >> i'm not condoning electrocuting people for stealing but i think the problem here, they are enabling themselves a lot of money because they were spiking the pension system. >> system wide reform is needed. >> eric: i'm sorry, wayne, what? >> that is just a suggestion. >> eric: i know, tongue-in-cheek kimberly, i'm sorry. >> we need system wide reform and we need smaller government. that is solution. >> eric: we're going to have to leave it there. kimberly and sally, thank you for joining us. most of only dream flying first class except for kimberly, why are we helping to pay united nations to fly the high life. we're in for some turbulence ♪
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digital insurance id cards. just a click away with the geico mobile app.
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